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Old 12-27-2013, 04:38 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 19,156,132 times
Reputation: 6738

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Quote:
Originally Posted by TFW46 View Post
I hope you'll file a claim in the class action lawsuit and that you can recover the portion of your payments that went to AARP (for doing nothing more than misleading many seniors into believing that AARP's stamp of approval designated UHC as more beneficial than other companies).
On my part - I won't do any paperwork in a class action. To make a claim. Or to opt out of the class either. And - if I wind up with a check for $27.36 4 years from now - so be it. OTOH - I haven't been involved in even a medium fraud where my damages were in excess of say $500 for about 40 years. If I had a substantial amount of damages - I'd get involved in the claims process.

On my part - both me and my husband and all of our parents have been with AARP/UHC Medigap policies for years/decades (in 2 different states). And think the company is excellent in terms of service. So perhaps it *is* better than at least some other companies. Moreover - I've never seen any complaints here about UHC Medigap policies (its MA plans apparently have some issues).

I did look up the company you're with. And - although there are many complaints about it on line (what insurance company doesn't have on-line complaints?) - it offers many different kinds of insurance policies - the complaints are all lumped together - and it's hard to tell which lines of insurance have issues - and which perhaps don't. Also - I tried to compare the price of my Medigap policy with one offered by your company - but I can't get an on-line quote. I wasn't going to call an agent to get a quote simply to write a message on a chat board. Robyn
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Old 12-27-2013, 04:44 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 19,156,132 times
Reputation: 6738
Quote:
Originally Posted by Pretzelogik View Post
AARP routinely screws seniors....try AMAC. The Association of Mature American Citizens
I dislike many of AARP's political positions. But how does it screw seniors? Apart from the Medigap/Part D insurance policy stuff - I've gotten some nice travel discounts (hotels/rental cars/etc.) from AARP membership (although they're not that necessary now that I'm 65+ since many companies offer "senior discounts" to anyone > 65). The travel discounts are why I joined in the first place. It's kind of like buying an Entertainment Book - and costs less. Robyn
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Old 12-27-2013, 05:04 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 19,156,132 times
Reputation: 6738
Quote:
Originally Posted by TFW46 View Post
I am and I do. My Medigap policy is with United American and it's through my former company's retirement program. I do like it very much. It's actually the Medigap F policy and the cost is $100/month. I hired an independent insurance agent to compare it with all other available policies and he couldnt find a better, more cost-effective one.

If I didnt have that, I'd go with Blue Cross Blue Shield -- again with the F policy.


And I've been a member of several class action lawsuits. I was a plaintiff in one. I've received thousands of dollars in settlements in a couple of them and hundreds of dollars in several others.
So what law firm(s) uses(use) you as a Plaintiff? Lead plaintiffs usually make extra bucks over class members for their "time and trouble". And what kind of crummy situations have you gotten into recently so that your *actual* losses are hundreds/thousands of dollars? I had one when I was in my 20's - a securities class action - where I lost about $1000 because I was young and stupid and trusted a major brokerage firm. But those days are long gone.

These days my average class action is like one of my credit card companies charged me X% to convert currency when I used the card outside the US - and didn't disclose the X% on a separate line on my statement (even though I knew about the fee).

FWIW - I have handled class actions as a lawyer. Largest settlement (in a securities case) was about $20-30 million IIRC. I am proud to say that the class members recovered about 75% of their OOP losses - in cash - not coupons - and the attorneys' fees were < 10% of the total recovered by class members. Of course - I was young and stupid then too. I didn't realize class members are supposed to get next to nothing - and the lawyers are supposed to do the least possible amount of work and also get the highest fees they can . OTOH - the federal judge that appointed my firm as class counsel was a straight arrow guy - and wouldn't have tolerated that kind of thinking on my part. Robyn
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Old 12-27-2013, 05:24 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 19,156,132 times
Reputation: 6738
Quote:
Originally Posted by AnnieA View Post
I have a client who has several trusts and it has lots of stocks and bonds within the trust. He has been a member of several class action lawsuits. We/my office would spend some time gathering information to be a member of the action. We charged him by the hour to compile the info and most often the award was a fraction of the cost of gathering the info. We certainly did not charge him for the actual time spent as he is a friend, as well as, a client. So we all lost except the lawyers. My client said not to file anymore of them and we haven't.

He got screwed really bad on the bonds with General Motors. Of course, the unions made out very well. But, he didn't feel it was worth the time and effort to be a part of the class action suit after his bonds became worth NOTHING. It was throughing good money after bad.......

These lawyers should not be allowed to make the money they do from these suits.

I have medigap with AARP/UHC, Plan J, which is no longer offered but I have stayed in Plan J. I don't like AARP as I do think they are shills for the federal government, regardless of how they posture otherwise.
I assume the "client" you mention is a client by virtue of your being a lawyer/accountant/similar - and not a broker/financial adviser/etc. Many securities lawsuits are a bunch of BS. Some aren't. The GM bond litigation was legitimate IMO - but the major bond holders were "mau mau'd" into dropping their suits. If your client was an individual bond holder - unless he had a super big position - he was left up "sh** creek" without a paddle (once the big guys "bail out" - the little guys are left in hopeless positions).

Just my 2 cents - any individual investor who wound up with GM bonds at the end is either stupid (if managing the portfolio himself) or has a lousy broker/financial adviser. It's not like the bonds evaporated overnight (I used to own GM bonds but sold out in perhaps 2000 or so once they started to get downgraded). Your client may avoid this aggravation in the future by getting better financial advice. Robyn
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Old 12-27-2013, 05:50 PM
 
Location: Florida
21,124 posts, read 22,064,757 times
Reputation: 25620
The smallest amount I ever received was in the neighborhood of $.28, IIRC..that as a passive participant.
I did receive a replacement computer from an action against NVIDIA but the replacement was a '$300' computer for my 9 month old $700 one.
Hey...better than a kick in the ass
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Old 12-28-2013, 08:49 AM
 
Location: Columbia SC
11,753 posts, read 9,993,672 times
Reputation: 17266
I consider the ads in AARP to be the same as any magazine. They are ads. It is up to you to determine if the product fits you. The advertisers also have to consider their market. Walk in bath tubs are not a hot ticket item for the under 65 crowd........LOL
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Old 12-28-2013, 02:26 PM
 
131 posts, read 195,361 times
Reputation: 180
Class Action Lawsuit Against AARP for Medigap Commissions

All the insurers offering Medi-gap policies charge different rates for the same plans. The benefits to the insured from the various policies of the same letter designation are, by law, identical. Payment of those benefits is between the provider and the insurer, not the patient. AARP uses their "brand" as a marketing tool. Here in Nazi Jackwad, I chose plan N from Horizon BCBS because the rates were the lowest. AARP was higher but not highest for their plan N. It's like buying a Hershey bar. It's the same candy no matter where you buy it, only the cost is variable. All the costs are available online. Why anyone has grounds to sue eludes me.
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Old 12-28-2013, 04:03 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 19,156,132 times
Reputation: 6738
Quote:
Originally Posted by old_cold View Post
The smallest amount I ever received was in the neighborhood of $.28, IIRC..that as a passive participant...
Hope you didn't spend it all in one place . I was cleaning out old emails today (end of year chore) - and found an email telling me I'm a member of - IIRC - a Kindle Amazon class action (overcharges by publishers). My anticipated recovery is between 50 and 75 cents . Robyn
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Old 12-29-2013, 01:24 PM
 
Location: SW US
2,544 posts, read 2,388,389 times
Reputation: 4562
I get a free Silver Sneakers membership with my AARP Medicare supplement. This allows me to use a great fitness center and heated pool that would otherwise cost $60/mo. I paid for fitness clubs for decades so this is a real benefit for me.
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Old 12-29-2013, 07:49 PM
 
Location: Native Floridian, USA
5,011 posts, read 6,577,559 times
Reputation: 6352
Quote:
Originally Posted by Robyn55 View Post
I assume the "client" you mention is a client by virtue of your being a lawyer/accountant/similar - and not a broker/financial adviser/etc. Many securities lawsuits are a bunch of BS. Some aren't. The GM bond litigation was legitimate IMO - but the major bond holders were "mau mau'd" into dropping their suits. If your client was an individual bond holder - unless he had a super big position - he was left up "sh** creek" without a paddle (once the big guys "bail out" - the little guys are left in hopeless positions).

Just my 2 cents - any individual investor who wound up with GM bonds at the end is either stupid (if managing the portfolio himself) or has a lousy broker/financial adviser. It's not like the bonds evaporated overnight (I used to own GM bonds but sold out in perhaps 2000 or so once they started to get downgraded). Your client may avoid this aggravation in the future by getting better financial advice. Robyn
Accountant and he was an individual bond holder in two trusts. The bonds were handled by a brokerage house and he trusted the advisor. He knows he was wrong. Otherwise, he does his own picking and chosing in stocks, etc.
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